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At 17, App Builder Rockets to Millions in Riches From Yahoo Deal

Seventeen-year-old Nick D’Aloisio is taking some time off from school in London, where he lives with his parents. He will let mom and dad help manage his money.

Mr. D’Aloisio has sold the free newsreader app he began developing at age 15 to Yahoo Inc., which announced on Monday it bought Summly without disclosing a price. A person familiar with the situation said Yahoo paid tens of millions of dollars for the company.

Not bad for a team that will bring just two other employees to Yahoo and generates no revenue.

by AMIR EFRATI

Full Story: http://online.wsj.com/article/SB10001424127887323605404578382243461824094.html?mod=WSJ_MIDDLENexttoWhatsNewsSecond

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